News organisations can consider experimenting with alternative formats like podcasts and newsletter to improve the reader experience.
Over the last few years, digital subscriptions have significantly helped news organisations build their financial stability. In fact, 79% of news executives plan to prioritise reader revenue in 2022. However, acquiring new subscribers might get challenging for even the most successful digital subscription businesses.
Publishers need to focus on making their offering more valuable for readers and build long-term subscriber relationships. Similarly, instead of obsessing over building viable business models, news organisations must build business infrastructure to support their journalism products.
Although news consumption increased during the pandemic, the public’s overall interest in the news has declined over time. When it comes to diversification efforts, companies must offer products that align with their existing value proposition. They must re-evaluate the quantity, quality, and formats of news reporting.
[4 minute read]
